RFO's Financial Report April 2020 - March 2021
A very ‘quiet’ Council Year due to Covid Restrictions.
The Council started the year with £3748.66 in the Bank.
The Council received £2750.00 Precept from NKDC, Bank Interest of £2.37 and £503.90 Grass Cutting and Litter picking grants and reclaimed £41.67 VAT.
Total Income was £3297.94.
The Council’s Expenditure for the year was £1486.80 - Clerk’s Salary and PAYE, £115.00 Clerk’s expenses, £462.52 for Insurance and £235.43 of other expenses including Daffodil Bulbs, Play Area rent and VAT payments.
Total Expenditure was £2299.75.
The Council ended the year with £4746.85 in the Bank with NO VAT due to or from HMCR.
The Council now holds NO funds ‘Ring Fenced’ for the Playing Field.
In view of minimal general cost increases and in line with the Council’s Budget and being obliged by Governmental Regulations to Budget certain sums for such things as Council Elections (which could cost up to £1500), the Precept for 2021/2022 Financial Year has been reduced to £2500.
As the Council’s 2020/2021 year’s turnover was below £25000, the latest Government Audit Regulations make us exempt from a full (chargeable) Audit (even though the identical figures have to be produced on an identical form). We still need to have these Accounts independently audited by our Internal Auditor (Bill Marshall).
Please note the Council's full Income and Expenditure accounts (unaudited at date of writing) can be viewed on the Council's website : https://swaton.parish.lincolnshire.gov.uk/ Andrew Deptford - Responsible Financial Officer to Swaton Parish Council. Report Dated : 03/04/202